Daymark Wealth Partners LLC Sells 28,075 Shares of PPG Industries, Inc. (NYSE:PPG)

Daymark Wealth Partners LLC cut its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 50.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,091 shares of the specialty chemicals company's stock after selling 28,075 shares during the quarter. Daymark Wealth Partners LLC's holdings in PPG Industries were worth $2,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after buying an additional 756,937 shares during the last quarter. Wellington Management Group LLP boosted its holdings in PPG Industries by 17.7% in the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares in the last quarter. Geode Capital Management LLC boosted its holdings in PPG Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after acquiring an additional 93,455 shares in the last quarter. Invesco Ltd. increased its position in PPG Industries by 6.1% during the 4th quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock valued at $564,596,000 after purchasing an additional 271,699 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its holdings in PPG Industries by 482.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after purchasing an additional 3,592,655 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Citigroup lifted their price objective on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Wells Fargo & Company boosted their price target on PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Bank of America restated a "neutral" rating and issued a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $129.83.

PPG Industries Price Performance

Shares of PPG Industries stock traded up $0.42 during trading hours on Friday, reaching $114.20. The company's stock had a trading volume of 2,188,187 shares, compared to its average volume of 1,855,205. The firm has a 50 day moving average price of $109.65 and a 200-day moving average price of $112.59. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.99. The stock has a market cap of $25.92 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.38 and a beta of 1.17. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The company's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.87 earnings per share. On average, analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is 58.24%.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.